TN 13 (05-03)

GN 02403.015 Processing Savings Bonds Received as Conserved Funds in the FO

A. POLICY - PROCESSING SAVINGS BONDS

U.S. savings bonds returned as conserved funds might be received in the FO. Savings bonds received as conserved title II and title XVI funds are held in the FO until a new representative payee is developed. See GN 00603.060 for instructions on transferring savings bonds to a new representative payee.

B. PROCEDURE - PROCESSING SAVINGS BONDS

Follow the instructions below for savings bonds received in the FO.

1. Interviewer

Enter savings bond with its face value, serial number and series into automated receipt system. Give receipt to remitter and give remittance to remittance clerk for safekeeping.

REFERENCE: See MSOM DMS 003.006, MSOM DMS 003.007 for how to obtain automated FO receipt.

2. Remittance Clerk

  1. At end of day, obtain FO Daily Receipt Listing (FODRL) to list savings bonds for conserved funds.

    REFERENCE: See MSOM DMS 004.009 for how to obtain FODRL.

  2. Handcarry FODRL to remittance supervisor.

3. Remittance Supervisor

  1. Review FODRL and savings bonds to ensure they are in complete agreement.

    Record any discrepancies and resolve them with the remittance clerk and/or interviewer.

  2. Ensure that savings bonds for conserved funds are placed in a secure location until a new representative payee is developed. See GN 00603.060 for instructions regarding savings bonds to the new representative payee.


To Link to this section - Use this URL:
http://policy.ssa.gov/poms.nsf/lnx/0202403015
GN 02403.015 - Processing Savings Bonds Received as Conserved Funds in the FO - 05/07/2003
Batch run: 01/27/2009
Rev:05/07/2003